Zoomcar, who dominates the car sharing market in India, has expanded to the MENA region and recently appointed Hany Olama as their country head in Egypt to help scale their car sharing marketplace.
The European Bank for Reconstruction and Development (EBRD) is stepping up its support for women entrepreneurs in Egypt, with a loan of €4.3 million to Reefy Microfinance Enterprise Services, the country’s first licensed microfinance institution.
Hughes Network Systems, LLC (HUGHES) has announced that the National Company for Telecommunications Services (NCTS) has selected the Hughes JUPITER™ System to deliver the ground segment requirements for operation of the Ka-band TIBA-1 satellite
IFC and Egypt's National Council for Women signed an agreement that will help increase women's economic participation, including by boosting their access to bank lending, promoting equal pay, and providing more flexible work options.
Volante Technologies, the global player in cloud payments and financial messaging, has announced a partnership with MDSL, a specialist in the integration of turnkey banking solutions in the Middle East, to enhance and automate banking payments in Egypt.
Dana Gas announced that its 9M 2021 collections from the Kurdistan Region of Iraq (KRI) and Egypt have increased 102% year-on-year to $256 million (AED 938mm) from $127 million (AED 466mm) in the same period the previous year.
The Government of The Arab Republic of Egypt, acting through the Ministry of Finance has announced the launch of its debut Syndicated ESG Term Loan and Islamic Term Financing Facility.
Global innovation platform Plug and Play is partnering with the Egyptian Information Technology Industry Development Agency (ITIDA), to launch an Open Innovation Hub in Cairo.
Information Technology Industry Development Agency partners with Plug and Play to launch Innovation Hub in Egypt
Plug and Play Egypt is scheduled to launch in November 2021 and will have an initial focus on Digital Transformation in Fintech, Insurtech, Energy, IoT, Mobility, Healthcare, and Sustainability amongst other industries.
IBM partners with ACME SAICO and Egypt's Ministry of Supply and Internal Trade to automates wheat silos processes
IBM and business partner ACME SAICO, have announced the automation of 22 wheat silos across Egypt by the end of this year using IBM AI-powered automation software.
The African Union (AU) through the Africa Centres for Disease Control and Prevention (Africa CDC) is set to launch the Eastern regional co-ordination center in Kenya come October 1.
Shell completes sale of Western Desert assets in Egypt to Cheiron Petroleum Corporation and Cairn Energy
Shell Egypt N.V. and Shell Austria GmbH, subsidiaries of Royal Dutch Shell (Shell), have completed the sale of their upstream assets in Egypt’s Western Desert to a consortium made up of subsidiaries of Cheiron Petroleum Corporation and Cairn Energy.
Inspired by Egypt’s commitment towards its transformational SDG journey as well as contributing to Danone’s Global goal to reducing 50% of food waste by 2030; Danone Egypt has launched its initiative towards “Zero Food Waste” in partnership with The Egyptian Food Bank
Sotech, an Egyptian e-health startup that specializes in smart IoT, trackable OOH advertising, and data gathering has raised US$1 million in pre-seed funding round to scale its operations into the rest of the MENA region.
After launching in South Africa in March this year, Chinese ride-hailing firm Didi Chuxing has now launched its operations in Egypt.
The intuitive platform will enable better sourcing decisions, faster cycle times as well as streamlined data processes for enhanced collaboration and supplier relationships.
Radisson Hotel Group, one of the world’s leading hotel companies, has set a record in its North African expansion, with the signing of nine hotels, to date this year.
Bloovo, the recruitment technology company specializing in the provision of AI-powered talent acquisition solutions has expanded to Egypt and the US markets with its wide portfolio of solutions and products
Pharos Energy announced that Pharos Group has entered into conditional agreements for the farm-out and sale of a 55% working interest and operatorship in each of the Egyptian El Fayum and North Beni Suef Concessions to IPR Lake Qarun Petroleum Co.
The European Bank for Reconstruction and Development (EBRD) is supporting the construction of the first inland dry port in Egypt, in 6th of October City, west of Cairo, with a €25 million loan to October Dry Port Company.
Egypt has already invested more than $2 billion to increase average internet speed in major cities from 6.5 to 42.5 megabytes per second – a sevenfold increase in two years
The European Bank for Reconstruction and Development (EBRD) is boosting renewable energy and energy efficiency in Egypt with $25 million loan to the National Bank of Kuwait Egypt (NBKE).
Egypt’s fintech ecosystem MNT-Halan announced a circa $120 million investment by global and regional growth investors- Apis Growth Fund II, Development Partners International (DPI), and Lorax Capital Partners.
Launched more than 14 years ago in Kenya, M-Pesa is today available in Kenya, Tanzania, Mozambique, DRC, Lesotho, Ghana and Egypt.
A financing package from IFC will help BCI Holding SA, a regional manufacturer and distributor of polyurethane (PU) raw materials, systems and specialities to further expand its production in Algeria, Egypt, and Nigeria.
Chinese inverter supplier has been selected by German developer to supply inverters and a storage system for the construction of a hybrid off-grid solar photovoltaic system and battery storage system in Egypt.
To address this challenge, the Egyptian Ministry of Local Development and the World Bank launched the Upper Egypt Local Development Program (UELDP) a year later.
Together with partners Orascom Construction S.A.E. and The Arab Contractors, Siemens Mobility will provide its comprehensive turnkey services to design, install, commission, and maintain the systems for 15 years.
The project will be the largest solar-plus-storage plant located at a mine site, significantly facilitating the energy transition for minerals in the MENA region.
Orange a ainsi lancé une plateforme digitale exclusivement dédiée au gaming qui réunit aujourd’hui plus de 10 000 joueurs issus de plus de 15 pays.
The acquisition will see MaxAB accelerate its expansion into the Maghreb market, empowered by WaystoCap’s expertise in the region.
Siemens Energy has signed a memorandum of understanding with the Egyptian Electricity Holding Company to jointly develop hydrogen-based industry in Egypt with export capability.
Amr brings to the role over 26 years of substantial local and regional corporate and investment banking experience gained from a variety of senior positions in MENAT.
Arab Bank launched its fintech-focused corporate accelerator program “AB Accelerator” in Egypt, following its successful launch in Jordan back in 2018.
Rossiya Airline (Aeroflot Group), in partnership with tour operator Biblio-Globus, resumed scheduled flights to popular Egyptian resorts from Sheremetyevo International Airport.
The african|markets team is proud to announce the launch of the public version of the Research, an Africa-focused research distribution platform that connects investors to some of the best equity analysts covering Africa’s frontier markets.
Swedish energy company Azelio has received a conditional order from Engazaat Development S.A.E. for 20 of Azelio’s TES.POD® renewable energy storage units.
MENA-focused energy company SDX Energy, announced the spudding of Hanut-1 exploration well (HA-1X), the second well in the Company's 2021 two-well drilling campaign in South Disouq, onshore Egypt.
The Arab Banking Corporation (Bank ABC), announced the completion of its acquisition of a 99.5% stake in BLOM Bank Egypt, significantly enhancing Bank ABC’s presence in the MENA region, and deepening its roots in the Egyptian market.
The European Bank for Reconstruction and Development (EBRD) is boosting small businesses and green investments in Egypt with a $50 million loan to QNB ALAHLI, one of Egypt’s largest commercial banks.
United Oil & Gas, the growing oil and gas company with a portfolio of production, development, exploration and appraisal assets, announced the spudding of the ASX-1X exploration well in the Abu Sennan Licence in Egypt.
Webb Fontaine, fournisseur de premier plan de technologies avancées et innovantes pour les fonctions douanières et commerciales, annonce son partenariat avec Misr Technology Services (MTS) en Egypte, une première pour le groupe.
Webb Fontaine, a leading provider of advanced and innovative Trade and Customs services has announced its first-ever partnership to work with Misr Technology Services in Egypt.
Fugro has revolutionised a subsea installation programme for Gulf of Suez Petroleum Company (GUPCO) with its innovative QuickVision technology.
In line with its ongoing commitment to Egypt, Mastercard has announced the expansion of its globally-renowned Priceless platform in the market to bring people in Egypt closer to their passions.
SDX Energy, the MENA-focused energy company, announced the spudding of the Hanut-1 exploration well (HA-1X), the second well in the Company's 2021 two-well drilling campaign in South Disouq concession in Egypt.
The first phase focuses on providing insurance coverage for televisions purchased from B.TECH. Insurance will apply to all purchase methods, both online and in-stores.
Gerd is a German citizen and has more than 30 years of international experience in the automotive industry across various areas such as business development, finance, retail operations, dealer development and sales and marketing.
H.B. Fuller, a global adhesive manufacturer, has announced a strategic investment to build a new facility in Cairo to support customers’ increased demand in the fast-growing markets of Egypt, Turkey, Middle East and Africa.
Lekela, the renewable power generation company that delivers utility-scale projects across Africa, announced the first 20 turbines at West Bakr Wind farm have been successfully synchronised with the wind farm, now providing power to the grid.
The Information Technology Industry Development Agency (ITIDA) has disbursed its Export-IT’s cash rebate on ICT exports of the local ICT companies.
IFC is investing $100 million in Egypt's first private sector green bond to help unlock finance for climate-smart projects, reduce greenhouse gas emissions, and support the country's transition to a greener economy.
To further the principles of gender equality, women empowerment, and inclusion in the business environment, Lafarge in cooperation with GIZ, will be offering a summer internship for 8 female school-students, reinforcing its mission to create equitable opportunities and promote diversity in the cement field.
United Oil & Gas, the growing oil and gas company with a portfolio of production, development, exploration and appraisal assets, announced successful testing of Al Jahraa-8 development well in the Abu Sennan concession, onshore Egypt.
This strategic collaboration arrives in time with ExxonMobil Egypt’s mission to empower new digital solutions and support young and ambitious innovators beyond the energy industry.
Danone has signed a partnership with The UN-Food and Agriculture Organization (FAO) aiming at improving nutrition, agriculture practices and food safety across Egypt for more sustainable food systems.
Contact Financial Holding, Egypt’s financial services provider, has successfully closed its second Sukuk issuance by its Sukuk arm; Sarwa Sukuk Company; a subsidiary of Contact Financial Holding, of EGP 2.5 billion.
Tatweer Misr and First Abu Dhabi Bank, Egypt branches sign agreement to offer exclusive mortgage services
This partnership is in line with Tatweer Misr’s strategy to stimulate sales and facilitate the benefits of mortgage services, strengthening the overall purchasing power.
Dana Gas, the Middle East regional private sector natural gas company has received an award in its favour from the London Court of Arbitration (LCIA), in relation to sale of its Egyptian assets.
Galileo Technologies will supply Egypt with 500 CNG dispensers and 200 Microbox Core™ MX200 compressor packages. These will equip the service stations of NGVC and GASTEC, two partially state-owned NGV companies.
Taager, an Egyptian social e-commerce startup, has raised a US$6.4 million seed funding round to help it scale its platform and expand across the Middle East.
Dana Gas, the Middle East’s regional private sector natural gas company, announced its H1 2021 collections from the Kurdistan Region of Iraq (KRI), and Egypt, have increased 106% year-on-year to $185 million.
Orange Egypt has teamed up with Amazon to offer Orange pre-paid and post-paid customers 6 months of Amazon Prime Video, courtesy of Orange.
ENOC Misr, a joint venture between Proserv. Egypt Group and the UAE’s Emirates National Oil Company (ENOC), has signed an agreement with Misr Petroleum to blend and fill lubricants locally at Misr Petroleum’s state-of-the-art plant.
Banque Misr signed a Memorandum of Understanding (MoU), with Microsoft Egypt to launch the first open innovation program in the Egyptian market, enabling a spurt in fintech startup growth.
Eni announced it has signed an agreement with the Egyptian Electricity Holding Company (EEHC) and the Egyptian Natural Gas Holding Company (EGAS) to assess the technical and commercial feasibility of projects for the production of hydrogen.
AfDB scoping study identifies opportunities for private sector participation in Africa’s climate agenda
A recently published African Development Bank scoping study on implementing NDCs in Africa recommends that development financial institutions and other investors focus on high-impact, high-growth potential start-ups that can drive climate-related innovation.
Under the MoU both parties will co-operate in exploring the possibility of supporting the introduction of ICD’s programs to FEI member enterprises in Egypt.
Orange Egypt has entered into an agreement with the National Bank of Egypt (NBE), in preparation to manage its Orange Cash services that is aimed at boosting Orange customers experience and ensuring customers’ access to the best secured and innovative services.
The new alliance between Schneider Electric and HPE is aimed to launch a package of products specially tailored to suit the needs of edge computing users across many sectors, including telecom service providers, banking and retail.
SDX Energy, the MENA-focused energy company, announced the commencement of the South Disouq drilling campaign, which will comprise two wells over the next few months.
Endeavor, the global community of high-impact entrepreneurs, has announced it has appointed Heba Ali as its new Managing Director of Egypt.
The online platform will deliver seamless shopping experiences to online shoppers while offering them multiple payment options.
Dedicated to supporting the country’s high industrial demand, the new learning centre for system integrators and OEM will enable the full capabilities of Rockwell Automation for its customers and partners in Egypt.
In line with the Global Reporting Standards, Attijariwafa bank Egypt issued its first sustainability report covering the period from 2019 to 2020.
ITIDA awards licenses to Fixed Misr and El-Delta Electronic Systems to fast-track digital signature adoption across Egypt
Egypt’s Information Technology Industry Development Agency (ITIDA) has awarded Fixed Misr and El-Delta Electronic Systems licenses to provide digital signature services, after receiving the highest scores in the overall evaluation of submitted offers.
KONE Corporation, a global player in the elevator and escalator industry, has won an order to deliver and install 60 custom-made elevators and escalators for the Iconic Tower building, located in Egypt’s new administrative capital.
The International Islamic Trade Finance Corporation (ITFC), launched the “SheTrades” initiative in Egypt, implemented by the International Trade Center (ITC) within the framework of the Aid for Trade Initiative for Arab States (AfTIAS) program.
Eni has signed an agreement with the Arab Republic of Egypt, the Egyptian General Petroleum Corporation (EGPC), and Lukoil for the merger of the concessions of Meleiha and Meleiha Deep, in Egypt's Western Desert.
The African Development Bank approved an €83 million loan to finance the second phase of Egypt’s Electricity and Green Growth Support Program.
Real estate developer SODIC partners with Orange Egypt to provide integrated smart solutions across all projects
Real estate developer SODIC has announced the signing of a partnership agreement with Orange Egypt, the provider of integrated telecommunications services in Egypt, to provide the latest integrated smart solutions across all SODIC projects.
These are the Democratic Republic of Congo, Egypt, Ethiopia, Kenya, Rwanda, Eswatini, Zambia and Zimbabwe. This initiative is led by the African Union through the African Civil Aviation Commission (AFCAC).
Huawei Technologies, the world leader in information and communication technology solutions, is announcing its establishment of the Cairo New Campus Club (CNCC) during the New Network Solutions for Enterprise Summit that was held in Sharm El-Sheikh.
To support Egypt's goal of achieving universal health coverage by 2030, IFC launched an advisory program to help at least 100 private healthcare providers improve their patient care systems and broaden access to safe and quality healthcare in the country.
The Central Bank of Egypt and the Central Bank of the UAE enhance cooperation on banking supervision
The MoU establishes the cooperation mechanisms on licensing, the ownership structure of licensed financial institutions (LFIs), authorisation of acquisitions, examinations of LFIs, information exchange and the necessary approvals for licensing requests.
Women’s health is being transformed and further prioritized with the launch of Organon, the only global company of its size focused on women’s health.
As COVID-19 cases in Africa rise for the third week running and vaccines are increasingly scarce, 47 of Africa’s 54 countries nearly 90%, are set to miss the September target of vaccinating 10% of their people unless Africa receives 225 million more doses.
The agreement includes changes to Vodafone Egypt’s, VFE, dividend policy, whereby VFE will pay a one-time dividend of EGP10 billion to its shareholders during the 2021 calendar year, EGP 2bn of which was paid in March.
Small and medium-sized enterprises (SMEs), in Egypt will benefit from a $100 million loan by the European Bank for Reconstruction and Development (EBRD), to the National Bank of Egypt (NBE).
The International Islamic Trade Finance Corporation, a member of the Islamic Development Bank Group (IsDB) and the United Nations Industrial Development Organization (UNIDO) have held a high-level bilateral meeting to highlight two project agreements.
Envoi has been commissioned by UAE based Dana Gas PJSC, to assist in its search for a drilling partner to join them in the exploration drilling of the huge Thuraya prospect, situated some 80 km offshore from the Egyptian coast.
Intertek, a Total Quality Assurance provider to industries worldwide, announced it has awarded Egyptian Natural Gas Holding Company (EGAS) with the globally-recognized ISO 50001 certification for Energy Management Systems.
PGS and ION Geophysical Corporation announced the successful completion of a survey offshore Egypt acquired on behalf of Shell with an innovative Extended Long Offset (ELO) design in combination with ION’s Gemini source technology.
The Agri-Digital Startup Competition aims to enhance and support the digital agriculture ecosystem in Egypt to empower existing and potential entrepreneurs, particularly youth and women.
IFC, IDH partner to boost access to quality health diagnostic services in Egypt and other emerging markets
An IFC loan to Integrated Diagnostics Holding (IDH), a diagnostic service provider in the Middle East and Africa, will help expand access to high-quality health diagnostic services in Egypt.
This partnership is set to promote the country’s digital transformation and bring Egypt closer to its vision of becoming a digital economy.
Inertia, PayTabs Egypt and valU partner to provide e-payment solutions for home improvement financing
Inertia and EFG Hermes’ NBFI subsidiaries - PayTabs Egypt and valU, the buy-now pay-later platform (BNPL), have entered into an arrangement that will allow Inertia’s clients to process payments online.
The Sovereign Fund of Egypt (TSFE), and EFG Hermes, announced they have executed agreements to acquire 76% capital of Arab Investment Bank.
With this new service Etisalat subscribers can reflect their personality and emotions by playing different ring back tones for different callers.
Lummus Technology announced that its Novolen business has been selected as the PP licensor by Anchorage Investments for its Anchor Benitoite project in Suez, Egypt.